CW Advisors LLC Grows Stake in Chevron Corporation $CVX

CW Advisors LLC raised its stake in Chevron Corporation (NYSE:CVX) by 20.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 160,990 shares of the oil and gas company’s stock after acquiring an additional 27,646 shares during the quarter. CW Advisors LLC’s holdings in Chevron were worth $26,905,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd boosted its stake in Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 122 shares during the last quarter. 10Elms LLP bought a new stake in Chevron during the 4th quarter valued at $29,000. Elequin Capital LP purchased a new stake in shares of Chevron during the first quarter worth $31,000. Navigoe LLC purchased a new stake in shares of Chevron during the fourth quarter worth $33,000. Finally, IFS Advisors LLC lifted its position in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 116 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CVX. TD Cowen upped their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Melius began coverage on shares of Chevron in a research note on Wednesday. They issued a “hold” rating and a $155.00 target price on the stock. Evercore ISI reiterated an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Wells Fargo & Company reiterated an “overweight” rating and issued a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Finally, Mizuho lowered their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $163.95.

Chevron Price Performance

CVX stock opened at $152.8990 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The firm’s fifty day moving average is $150.76 and its 200 day moving average is $148.59. The firm has a market cap of $264.21 billion, a P/E ratio of 19.68, a P/E/G ratio of 2.25 and a beta of 0.87.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter last year, the firm earned $2.55 EPS. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is 88.03%.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.